Alex deposited R120 000 into a savings account
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Desmond
Question 3: A savings account is opened with an amount of R45 000 and three years later R23 000 is withdrawn. Six years after the account is opened, R11 000 wa…
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Agreement to pay deposit of 20%
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Desmond
Question 1: A student buys a TV set of R11 000 on a hire purchase agreement. He agrees to pay a deposit of 20% and the balance over a period of two years in mo…
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Peter wins lotto
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Desmond
7.1 The estimated inflation rate is an average of 3% p.a. How much will R800 000 today be worth 10 years from now? (2) 7.2 Peter saw an advert of a house worth…
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Business set up a sinking fund
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Desmond
A business installs a server for R500 000. The value of the server depreciates at 20% per annum according to the diminishing-balance method. 5.1 Calculate the …
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Bank loan of R600 000
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Desmond
QUESTION 3 Jake takes out a bank loan of R600 000 to pay for his new car. He repays the loan with monthly instalments of R9 000, starting one month after the g…
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Inflation rate remains constant
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Desmond
2.1 Samuel invested an amount with ABC bank at an interest 12% p.a. compounded His investment grew to R8450 at the end of 10 years. Determine the amount that S…
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